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Use the following information to answer questions 3 through 6. Prime Filet is a steakhouse specializing in preparing USDA-prime select steaks. The output for
Use the following information to answer questions 3 through 6. Prime Filet is a steakhouse specializing in preparing USDA-prime select steaks. The output for the steakhouse is the number of steaks served. Prime Filet has only the following monthly costs: Monthly Cost Item Amount Servers' and chefs' wages and benefits $50,000 Electric and water charges $2,000 Building rent $5,000 Interest payments $1,000 Steaks and other foods $20,000 Prime Filet's monthly variable cost is and monthly fixed cost is, O $76,000...$2,000 $75,000...$3,000 $72,000...$6,000 $52,000...$26,000 If Prime Filet serves 6,000 steaks per month, then Prime Filet's. O average cost is $13.50 average variable cost is $12 O average fixed cost is $1.50 Omarginal cost is $1 Suppose Prime Filet shuts down for the month of December. During this month, Prime Filet's total cost O is $0 since the steakhouse is not in business serving steaks to customers O equals the steakhouse's monthly variable cost, except the electric and water charges equals the steakhouse's fixed cost O is less than the steakhouse's variable cost during November
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